US Stock Market Today: Dow Jones crashes over 650 pts, Nasdaq below 17,350—Adobe slumps below $380; Amazon, Apple drop 2%

US Stock Market Close (March 13), Dow Jones, S&P 500, Nasdaq: An across-the-board sell-off pulled the main Wall Street benchmarks—the Dow Jones Industrial Average (DJIA), the S&P 500 and the Nasdaq Composite—lower on Thursday, with consumer discretionary, communication services, realty and tech stocks being the worst hit. Growing concerns about US President Donald Trump’s aggressive stance and action on the trade front, and retaliatory action by America’s major trade partners coming in the way of economic growth kept investors on the back foot.

Among index heavyweights, stocks like Adobe, Apple and Amazon were among the top losers. Adobe fell even as the tech major’s revenue guidance stood met market expectations. Adobe was down 13.6 per cent at $378.8 apiece at the last count, while Amazon.com was down 2.5 per cent at $193.9 and Apple was down 2.3 per cent at $211.8. On the flipside, Intel shares were up 15.4 per cent at $23.9 apiece. 

Responding to the US President’s tariffs on steel and aluminum, the European Union imposed a 50 per cent dity on American whiskey exports. Trump warned of duties to the tune of 200 per cent on European beverage imports if the Union does not remove US whiskey surcharges.

Uncertainty surrounding the 47^th US President’s take on trade tariffs has kept investors on the back foot, also causing ripples across major markets elsewhere around the globe.

US Stock Market on Monday, March 13 | Here is how Dow Jones, S&P 500 & Nasdaq fared

At 2:13 pm Eastern Time (11:43 pm in India), this is where the main American indices stood:

• DJIA: down 486.3 points, or 1.2 per cent, at 40,864.7
• S&P 500: down 64.2 points, or 1.2 per cent, at 5,535.1
• Nasdaq: down 299.1 points, or 1.7 per cent, at 17,349.4
• Russell 2000: down 39.7 points, or 2.0 per cent, at 1,986.8

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Top Dow Gainers vs Losers

Eighteen stocks in the 30-scrip Dow universe were trading in green territory.

Now, let’s take a look at some of the top gainers and losers in the tech stocks-driven Nasdaq basket. 

Top Nasdaq Gainers vs Losers

Here’s how some of the prominent names fared:

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With inputs from agencies

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